Africa beats Middle East to rank second in luring top oil workers

7/14/2014

Africa beats Middle East to rank second in luring top oil workers

ANDRE JANSE VAN VUUREN

LONDON (Bloomberg) -- Africa has surpassed the Middle East as the oil-and-gas producing region that attracts the second-highest number of the best-paid staff, international advisory firm Von Essen Group said.

Africa accounts for 13% of advertised roles that pay more than $170,000 for oil and gas experts, second only to Europe, London-based Von Essen said in an emailed statement.

“Africa has become increasingly attractive to international exploration companies and investors as it has become easier to access oil reserves,” said Lydia Marref, a partner at Von Essen. “The continent has made great strides in becoming more business friendly.”

The world’s fourth-largest oil-producing region, Africa accounted for 10% of global crude output in 2013, led by Nigeria and Angola. World oil demand will climb 1.5% to a record 94.1 MMbpd in 2015 as growth in emerging economies compensates for a contraction in developed nations, according to the International Energy Agency.

Europe attracts 41% of the best-paying advertised roles for North Sea oil production and expanding exploration in the UK, Poland and Romania for shale gas, said Von Essen, which provides tax advisory services for international contractors.

The Middle East lures 12% of jobseekers paid more than $170,000, followed by North and Central America with 11%.